LB Pharmaceuticals Inc $LBRX Holdings Cut by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) by 65.0% during the third quarter, HoldingsChannel.com reports. The fund owned 6,721 shares of the company’s stock after selling 12,477 shares during the quarter. Calamos Advisors LLC’s holdings in LB Pharmaceuticals were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LBRX. Profund Advisors LLC bought a new position in LB Pharmaceuticals during the third quarter valued at approximately $1,082,000. Sigma Planning Corp purchased a new stake in LB Pharmaceuticals in the third quarter worth approximately $1,151,000. Wellington Management Group LLP grew its position in LB Pharmaceuticals by 11.9% in the 2nd quarter. Wellington Management Group LLP now owns 58,891 shares of the company’s stock worth $1,911,000 after purchasing an additional 6,251 shares during the period. Great Lakes Advisors LLC bought a new stake in LB Pharmaceuticals in the 2nd quarter worth approximately $987,000. Finally, Bank of New York Mellon Corp purchased a new stake in LB Pharmaceuticals during the 2nd quarter valued at $1,784,000.

LB Pharmaceuticals Trading Down 0.4%

Shares of LB Pharmaceuticals stock opened at $44.94 on Wednesday. The company’s fifty day simple moving average is $40.47 and its 200-day simple moving average is $33.17. LB Pharmaceuticals Inc has a 1-year low of $14.32 and a 1-year high of $50.16.

LB Pharmaceuticals (NASDAQ:LBRX) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.18). As a group, research analysts predict that LB Pharmaceuticals Inc will post -5.87 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on LBRX shares. Wall Street Zen downgraded LB Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday. Stifel Nicolaus set a $53.00 target price on LB Pharmaceuticals in a research report on Thursday, August 13th. Zacks Research downgraded LB Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Canaccord Genuity Group initiated coverage on shares of LB Pharmaceuticals in a research report on Friday, October 9th. They set a “buy” rating and a $65.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective on shares of LB Pharmaceuticals in a research note on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, LB Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $57.40.

LB Pharmaceuticals Company Profile

LB Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for serious neuropsychiatric disorders. Its research focuses on medicines intended to address conditions with significant unmet treatment needs. The company’s lead candidate, LB-102, is an oral investigational drug being studied for schizophrenia. LB Pharmaceuticals has also identified other psychiatric conditions, including bipolar disorder, as potential areas of development. LB-102 has not been approved for commercial use, and its safety and effectiveness have not been established by regulators.